Forrester: 5 steps to unlock your data’s value for higher KPIs.
- Bring the data capital discussion to the C-suite.
Forrester explains that data has become a strategic business asset driving differentiation and competitive advantage. Surveyed leaders show that investments in data capital deliver significant improvements — over 20% — in key performance metrics.* Modern data storage, protection and management are the tools to achieve that end.
- Cultivate an insights-driven culture with leadership and training.
Appoint leadership to cultivate an understanding of data’s value and the importance of using it, which requires investments in people (hiring, developing skills sets, establishing centers of excellence) and the technologies that enable them. At more mature companies, chief data and analytics officers head centers of excellence.
- Simplify your vendor and infrastructure technology ecosystem.
Even mature companies indicate challenges with the number of vendors and disparate systems, and the skills needed to implement them. To enable infrastructure modernization, it’s optimal to first evaluate the benefits of solutions from a single or limited number of data infrastructure vendors.
- Modernize data infrastructure. Remove barriers. Reap data capital’s
Managing messy, soiled data sets plagues many companies. 37%* of all organisations report their infrastructure limits their data access. Modern data storage, protection and management solutions help. To lessen large capital investments, institute regular refresh cycles to keep IT updated, and explore flexible financing and consumption models.
- Secure and protect assets to ensure trust, actions and outcomes.
Data and its derived insights are valuable only when they drive smarter actions and deliver outcomes — all of which require trust in the data’s accuracy and integrity. To avoid the “garbage in, garbage out” scenario and to optimally protect your data capital, be vigilant about keeping data security top of mind.
